Facing parallel market and counterfeit issues by the combined use of blockchain and CP-ABE encryption technologies

Abstract

Blockchains are emerging technologies that propose new business models and value propositions. Besides their application for cryptocurrency purposes, as distributed ledgers of transactions, they enable new ways to provision trusted information in a distributed fashion. In this paper, we present our product tagging solution designed to help Small & Medium Enterprises (SMEs) protect their brands against counterfeit products and parallel markets, as well as to enhance UX (User Experience) and promote the brand and product.Our solution combines the use of DLT to assure, in a verifiable and permanent way, the trustworthiness and confidentiality of the information associated to the goods and the innovative CP-ABE encryption technique to differentiate accessibility to the product’s information.